21
Jun
Barring any unanticipated shocks, inflation is projected to gradually trend downwards but remain above the upper band of 8±2% until the end of 2025. According to the May 2023 Monetary Policy Report by the Bank of Ghana, risks to the inflation outlook are fairly tilted to the downside supported by the relative stability in the exchange rate, reduction in ex-pump petroleum prices, alongside base drift effects. This could mute the upward adjustments in administrative prices. Given these considerations, the Monetary Policy Committee decided to maintain the Monetary Policy Rate at 29.5% in May 2023. Headline inflation had already declined significantly…